The particle therapy market is projected to grow from an estimated USD 865 million in 2018 to USD 1,349 million by 2023, at a CAGR of 9.3% during the forecast period.
Growth in the particle therapy market is primarily driven by factors such as the various advantages offered by particle therapy over photon therapy, growing global prevalence of cancer, increasing adoption of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide.
By product, the synchrotron segment is expected to grow at the highest rate during the forecast period
Synchrotrons are used to accelerate both protons and heavy ions such as carbon and hydrogen. The growth of the synchrotrons segment is attributed to factors such as the increasing number of research activities as well as the increasing investments in the development of synchrotron facilities.
By type, proton therapy is expected to be the largest contributor to the particle therapy market
The large share of the proton therapy segment can be attributed to factors such as the high degree of precision, shorter treatment time, and reduced side-effects associated with proton therapy as compared to conventional photon therapies using X-rays. Other factors such as the increasing research activities in the field of radiation oncology using proton therapy systems, rising number of proton therapy centers, and longer equipment lifespan of proton therapy (30 years or more) in comparison to photon therapy (10 years) are expected to support the growth of this market in the coming years.
By application, treatment applications are expected to be the largest contributor to the particle therapy market
The introduction of small footprint single-room particle therapy centers is further promoting the adoption of proton therapy for the treatment of cancer in small-scale hospitals. Factors driving the growth of the treatment applications segment include the growing number of cancer patients globally, increasing government initiatives (aimed at equipping or upgrading hospitals with newer and advanced radiotherapy systems), and the increasing availability of funding for the adoption of advanced cancer treatment technologies.
Asia Pacific is expected to hold a significant share in the particle therapy market during the forecast period
The Asia Pacific is one of the major revenue generating regions in the particle therapy market. China and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing per capita income, improving healthcare infrastructure, and supportive government activities in these emerging countries. Furthermore, the increasing geriatric population, growing incidence of cancer, and rising acceptance of particle therapy procedures and devices are also driving the growth of this regional market.
Ion Beam Applications SA (Belgium), Varian Medical Systems, Inc. (US), and Hitachi, Ltd. (Japan) are the major players operating in the particle therapy market.
Other players in this market include Provision Healthcare (US), Mevion Medical Systems, Inc. (US), Sumitomo Heavy Industries, Ltd. (Japan), Optivus Proton Therapy, Inc. (US), ProTom International, Inc. (US), Advanced Oncotherapy Plc. (UK), and Danfysik A/S (Denmark).
Hitachi, Ltd. (Japan) is one of the leading players operating in the particle therapy market. Hitachi's proton beam therapy products have been used to treat more than 16,000 patients worldwide, and the company continues to perform joint research with advanced cancer hospitals in the US. Also, the company focuses on agreements with leading research organizations to strengthen its product development capabilities in the field of particle therapy.
In 2017, Mitsubishi Electric signed an agreement to transfer its particle therapy systems business to Hitachi and integrate into one entity. This helped Hitachi to improve its position in the proton therapy market.
In 2017, Royal Philips (US) and Proton Partners International (UK) collaborated with IBA (Belgium) to build the first compact proton therapy system in the Middle East.
In 2016, Provision Asia (HK) Limited and Shenzhen Hairong International Medical Development Co., Ltd. entered into a joint venture to form Provision China. This company will be an exclusive distributor of the ProNova SC360 Proton Therapy System.
Key questions addressed by the report:
What are the growth opportunities related to the adoption of heavy ion therapy across major regions in the future?
Emerging countries have immense opportunities for the growth and adoption of particle therapy. Will this scenario continue in the next five years?
Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
What are the various cancer types wherein particle therapy finds a high adoption rate?
What are the new trends and advancements in the particle therapy market?
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Particle Therapy: Market Overview 4.2 Regional Analysis: Particle Therapy Market, By Product & Service 4.3 Particle Therapy Market Size, By Type 4.4 Particle Therapy Market Size, By Cancer Type 4.5 Regional Analysis: Particle Therapy Market, By Application 4.6 Particle Therapy Market, By Region
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 220.127.116.11 Advantages Offered By Particle Therapy Over Photon Therapy 18.104.22.168 Growing Global Prevalence of Cancer 22.214.171.124 Growing Adoption of Particle Therapy in Clinical Trials 126.96.36.199 Increasing Number of Particle Therapy Centers Worldwide 5.2.2 Restraints 188.8.131.52 Infrastructural Challenges in Healthcare Facilities 184.108.40.206 Affordability and Accessibility of Treatments 220.127.116.11 Unfavorable Reimbursement Policies and Limited Insurance Coverage for Particle Therapy 5.2.3 Opportunities 18.104.22.168 Emerging Markets 5.2.4 Industry Trends 22.214.171.124 Growing Adoption of Pencil-Beam Scanning
6 Particle Therapy Market, By Type 6.1 Introduction 6.2 Proton Therapy 6.2.1 Proton Therapy is Increasingly Being Adopted as A Primary Treatment Mode for Various Cancer Types 6.3 Heavy Ion Therapy 6.3.1 The Use of Heavy Ion Therapy is Still in the Experimental Phase Across Many Regions
7 Particle Therapy Market, By Product & Service 7.1 Introduction 7.2 Products 7.2.1 Cyclotrons 126.96.36.199 Leading Players in the Particle Therapy Market Mainly Manufacture Cyclotrons 7.2.2 Synchrotrons 188.8.131.52 Increasing Investments Into the Development of Synchrotron Facilities are Contributing to Market Growth 7.2.3 Synchrocyclotrons 184.108.40.206 The High Space Requirements of Synchrocyclotrons are Limiting Their Widespread Adoption 7.3 Services
8 Particle Therapy Market, By System 8.1 Introduction 8.2 Multi-Room Systems 8.2.1 Lower Shielding Requirements and Faster Beam-Switching Capabilities of Multi-Room Systems are Increasing Interest Among End Users 8.3 Single-Room Systems 8.3.1 Compact Structure and Reduced Capital Costs are Leading to High Growth of Single-Room Systems
9 Particle Therapy Market, By Cancer Type 9.1 Introduction 9.1.1 Pediatric Cancer 220.127.116.11 Better Control of Radiation With Particle Therapy Makes It the Most Suitable Treatment Mode for Pediatric Cancer 9.1.2 Prostate Cancer 18.104.22.168 Particle Therapy Offers A Minimally Invasive Alternative With Increased Accuracy for Prostate Cancer Treatment 9.1.3 Lung Cancer 22.214.171.124 Rising Number of Clinical Trials to Optimize the Use of Particle Therapy for Lung Cancer is Driving the Growth of the Market 9.1.4 Breast Cancer 126.96.36.199 Limited Radiation Exposure With Reduced Side-Effects is Increasing the Adoption of Particle Therapy for Breast Cancer 9.1.5 Head and Neck Cancer 188.8.131.52 The Use of Pencil-Beam Scanning for Proton Therapy Supports Market Growth for This Segment 9.1.6 Other Cancers
10 Particle Therapy Market, By Application 10.1 Introduction 10.2 Treatment Applications 10.2.1 Introduction of Small Footprint Single-Room Particle Therapy Centres is Promoting the Adoption of Particle Therapy for Cancer Treatment 10.3 Research Applications 10.3.1 Increasing Availability of Funding for Particle Therapy-Related Research Projects is Providing Growth Opportunities in Research Applications
11 Particle Therapy Market, By Region 11.1 Introduction 11.2 North America 11.2.1 US 184.108.40.206 Growing Number of Particle Therapy Centers in the US to Drive Market Growth 11.2.2 Canada 220.127.116.11 Canadian Government Undertaking Initiatives to Include Particle Therapy as A Treatment Method 11.3 Europe 11.3.1 France 18.104.22.168 Increasing Healthcare Expenditure in France is Supporting the Adoption of Particle Therapy Products 11.3.2 Germany 22.214.171.124 Increasing Research in the Field of Proton & Heavy Ion Therapy to Drive the Growth of the Particle Therapy Market in Germany 11.3.3 UK 126.96.36.199 Cyclotrons Segment Dominated the Particle Therapy Market in the UK 11.3.4 Rest of Europe 11.4 Asia Pacific 11.4.1 Japan 188.8.131.52 Japan is the Largest User of Heavy Ion Therapy for the Treatment of Various Types of Cancers 11.4.2 China 184.108.40.206 Growing Interest of Major Market Players to Increase Their Presence in China Will Drive the Growth of the Particle Therapy Market in the Country 11.4.3 India 220.127.116.11 Leading Product Manufacturers are Entering the Indian Particle Therapy Market Owing to the High Growth Opportunities in the Country 11.4.4 Rest of Asia Pacific 11.5 Rest of the World 11.5.1 Inadequate Healthcare Infrastructure is Restraining the Widespread Adoption of Particle Therapy in the Region